Cardano Archives - Cryptolifedigital

Cardano On-Chain Metrics Signal Bullish Turn Despite Investor Losses

26Apr

By OLAJIDE SAMUELNo Comments

Cardano

Cardano On-Chain Metrics Signal Bullish Turn Despite Investor Losses

Cardano (ADA) investors have been experiencing a rough April, with most selling their holdings at a loss. However, on-chain metrics are flashing buy signals, suggesting a potential price upswing despite the current bearish sentiment. Selling Pressure Lessens as Underwater Investors Hold On Data from IntoTheBlock's Global In/Out of the Money (GIOM) indicator reveals a key trend. While nearly 60% of wallet addresses are currently underwater on their ADA holdings, meaning they would incur a loss if they sold now, this situation might be stabilizing. The indicator shows that only 40.10% of addresses are currently profitable. Read Also: Terra Classic Community Rejects Gas Fee Hike, LUNC Price Takes a Hit This dynamic creates a scenario where further selling is less likely. Investors who...

Cardano Sees NFT Trading Surge Despite Coin Price Dip

25Apr

By OLAJIDE SAMUELNo Comments

Cardano

Cardano Sees NFT Trading Surge Despite Coin Price Dip

Cardano (ADA) has experienced a surge in NFT trading activity, even as the coin's price dips slightly. This uptick in NFT purchases suggests continued life in the NFT market, despite recent pronouncements of its decline. Cardano's Active NFT Market While the price of ADA has fallen 4.44% in the last day, trading volume remains strong. Cardano is processing significantly more NFT purchases, with data showing over 450,000 ADA tokens used for NFT purchases within 24 hours. This data contradicts recent claims of a dying NFT market, showcasing continued active participation. Read More: Cardano (ADA) Defies Bearish Trend, Shows Signs of Recovery Cardano's Price Dip The ADA token itself has seen a decline, losing nearly all the gains it made earlier this year. Cardano surged almost 100% by...

Cardano (ADA) Defies Bearish Trend, Shows Signs of Recovery

24Apr

By Kayode Oke MichaelNo Comments

Cardano

Cardano (ADA) Defies Bearish Trend, Shows Signs of Recovery

Cardano (ADA) has emerged as a bright spot in a challenging cryptocurrency market, exhibiting signs of a strong recovery in recent weeks. This article explores ADA's recent performance, prospects, and factors to consider for investors. Price Recovery and Bullish Outlook After a turbulent start to April, with prices falling to $0.4051, ADA has demonstrated a remarkable comeback. It has surpassed several critical resistance levels, indicating a potential reversal of the bearish trend. Read Also: Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High AI predictions from sources like CoinCodex share optimism for ADA's short-term future. They forecast a 4.55% increase by May 23, 2024, reaching approximately $0.534035. This aligns with the overall bullish market conditi...

Cardano on the Rebound: Analyst Predicts $1 Target After ABC Wave Completion

23Apr

By OLAJIDE SAMUELNo Comments

Cardano

Cardano on the Rebound: Analyst Predicts $1 Target After ABC Wave Completion

Cardano (ADA) is showing signs of life after a brutal price crash in the last two weeks that mirrored the broader market correction. Analysts are cautiously optimistic about a sustained recovery, with one analyst, CobraVanguard, predicting a bullish run towards $1. Cardano Emerges from ABC Wave Pattern The recent market downturn, triggered by Bitcoin's plunge, forced Cardano and other altcoins into a dreaded ABC wave pattern. This technical indicator is known for causing significant price drops, often exceeding 50%. Read Also: XRP Poised for Bullish Run? Analyst Predicts Surge Based on Support and Legal Resolution CobraVanguard dissects the ABC wave in Cardano's recent price action. Wave A represents the initial fall from $0.8 to $0.57, followed by a corrective bounce (Wave B) to $...

Cardano’s Optimistic Start to the Week Sparks Investor Excitement

22Apr

By Kayode Oke MichaelNo Comments

Cardano

Cardano’s Optimistic Start to the Week Sparks Investor Excitement

Cardano (ADA) experienced a promising start to the week with a rise in value, offering a refreshing change from the significant drops observed in recent weeks. However, while daily analyses showed that the past week ended strongly, a closer look at the volume chart indicated a lack of convergence between investor activities and price movement. This inconsistency raises doubts about the sustainability of the recent trend. Read Also: Bitcoin Successfully Halves, But Price Impact Remains Unclear Despite a positive price trend, there has not been a corresponding increase in volume, failing to surpass the $500 million threshold. At the beginning of the week, the volume had risen above $1.3 billion, but it has since nearly halved to hover around approximately $402 million. This stagnan...

Bitcoin Halving Triggers Volatility, But Analysts Bullish on Cardano’s Future

20Apr

By CryptolifedigitalNo Comments

Cardano

Bitcoin Halving Triggers Volatility, But Analysts Bullish on Cardano’s Future

The highly anticipated fourth Bitcoin halving took place earlier today, cutting miner rewards for each block in half. While this event is a significant milestone for Bitcoin, the immediate impact on cryptocurrency prices can be complex. Market Fluctuations and Past Performance Leading up to the halving, major cryptocurrencies, including Cardano (ADA), experienced volatility. ADA saw a slight dip of 2.7% over the past week, currently trading around $0.4963. Historically, Bitcoin's halving hasn't caused immediate price surges, but it often precedes a bull run in subsequent months. Read Also: Meme Coins Surge After Bitcoin Halving, DOGE Nears $0.15 Investors are optimistic about future gains for Cardano, referencing its impressive post-halving performance in 2020. Back then, ADA rall...

Don’t Miss Out: Cardano (ADA) Price Expected to Soar 75% as Technical Chart Predicts

19Apr

By Kayode Oke MichaelNo Comments

Cardano

Don’t Miss Out: Cardano (ADA) Price Expected to Soar 75% as Technical Chart Predicts

Cardano (ADA) has been experiencing a turbulent period in the crypto market, with its price affected by the recent market crash which wiped out much of the gains made by major cryptocurrencies at the beginning of the year. However, the ADA price has shown signs of recovery today, following a broader upward trend in the crypto market, indicating growing investor confidence. Analyst Gives Bullish Forecast For Cardano Price In the midst of this, Ali Martinez, a respected crypto analyst, has provided a bullish forecast for ADA's price based on technical analysis. Martinez highlighted Cardano's MVRV Ratio, noting that the last time it dipped below -22%, ADA's price surged by over 75%. Currently, the MVRV Ratio is under -22%, which according to Martinez, suggests the potential for another sign...

Bitcoin Halving Looms: Crypto Market Braces for Potential Surge, Cardano (ADA) in Focus

18Apr

By OLAJIDE SAMUELNo Comments

Cardano

Bitcoin Halving Looms: Crypto Market Braces for Potential Surge, Cardano (ADA) in Focus

The Bitcoin halving event, estimated to occur within 48 hours, has ignited discussions about its impact on the cryptocurrency market. If history is any guide, the halving could trigger a significant rally in Bitcoin's price, potentially leading to a broader market upswing. Past Halving as a Precedent Historically, each Bitcoin halving has been followed by a substantial surge in Bitcoin's price, often spilling over to other cryptocurrencies (altcoins) like Cardano (ADA). During the 2020 halving, Bitcoin witnessed a staggering price increase of over 700%, climbing from $8,500 to a peak of $69,000. This historical trend fuels expectations for the upcoming halving, with some analysts predicting Bitcoin reaching a price target of $500,000. Industry leader Anthony Scaramucci, founder of SkyBri...

Cardano (ADA): Can it Overcome Challenges and Reclaim its Position?

17Apr

By Daniel AbangNo Comments

Cardano

Cardano (ADA): Can it Overcome Challenges and Reclaim its Position?

Cardano (ADA), a prominent blockchain platform, faces scrutiny from Forbes advisors regarding its potential for growth in 2024. While initially lauded for aiming to address the limitations of Ethereum, Cardano's future appears uncertain due to the emergence of Ethereum layer-two solutions. Cardano's Underperformance and Supply/Demand Analysis The analysis highlights Cardano's underperformance, noting an 85% drop from its 2021 peak. To assess its 2024 prospects, factors like supply, demand, market sentiment, and competition were examined. Read Also: Cardano (ADA) Sees Major Investor Influx, Poised to Reclaim Top 10 Crypto Spot? On the supply side, with over 35.25 billion ADA in circulation (78% of the max supply), there's seemingly ample room for growth. However, the token issuance ...

Cardano (ADA) Sees Major Investor Influx, Poised to Reclaim Top 10 Crypto Spot?

17Apr

By OLAJIDE SAMUELNo Comments

Cardano

Cardano (ADA) Sees Major Investor Influx, Poised to Reclaim Top 10 Crypto Spot?

Cardano (ADA), a leading blockchain platform, is experiencing a surge in interest from major investors, potentially impacting its position among the top 10 cryptocurrencies. Data shows a dramatic rise in large holder inflows for Cardano. These inflows jumped from 54.93 million ADA to a staggering 6.32 billion ADA within a single day, signifying a massive 28,372% increase. This movement suggests significant buying activity from whales, who often transfer their crypto holdings to secure wallets after exchange purchases. Read Also: Shiba Inu: Down But Not Out? Analyst Predicts Recovery Despite Market Woes Historically, such spikes have coincided with price bottoms, indicating whales might view current prices as good entry points following recent market corrections. Indeed, ...